3. The Value-Added Tax Act 1972 is amended -
(a) in section 26 -
(i) by substituting -
(I) "€4,000" for "€1,520" in both places where it occurs,
(II) "€4,000" for "€950" in each place where it occurs, and
(III) "€4,000" for "€1,265" in both places where it occurs,
and
(ii) by deleting subsections (4), (6) and (7),
(b) by deleting section 27,
(c) by inserting the following before section 28:
"27A. Penalty for deliberately or carelessly making incorrect returns, etc.
(1) In this section -
'carelessly' means failure to take reasonable care;
'liability to tax' means a liability to the amount of the difference specified in subsection (11) or (12) arising from any matter referred to in subsection (2), (3), (5) or (6);
'period' means taxable period, accounting period or other period, as the context requires;
'prompted qualifying disclosure', in relation to a person, means a qualifying disclosure that has been made to the Revenue Commissioners or to a Revenue offic